CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, Dr. Kathleen Neuzil from the University of Maryland School of Medicine breaks down the next steps and challenges involved in getting Pfizer's 90% effective vaccine to the broader American population. Plus, after Monday's raucous trading session, CNBC's Kate Rooney dives into which investors were buying the dip in "stay at home" stocks like Zoom and Peloton.
Pfizer and BioNTech announced Monday their coronavirus vaccine was more than 90% effective in preventing Covid-19 among those without evidence of prior infection, hailing the development as "a great day for science and humanity."
"I think we can see light at the end of the tunnel," Pfizer Chairman and CEO Dr. Albert Bourla told CNBC's Meg Tirrell on "Squawk Box." "I believe this is likely the most significant medical advance in the last 100 years, if you count the impact this will have in public health, global economy."
Pfizer is marshaling a massive new cold-storage supply chain to handle the delicate dance of transporting limited doses of its coronavirus vaccine from manufacturer to any point of use within two days.
Experts say it will be a "Herculean effort" requiring several new technologies to work in flawless concert to safely deliver every dose of the drug. Pfizer said it plans to ask the U.S. Food and Drug Administration for emergency use authorization next week, when it has the required two months of safety data.
The vaccine will be formulated, finished and placed in cold storage in the pharmaceutical giant's Kalamazoo, Michigan, facility, its largest such plant in the country. During the shipment and storage, the vaccines must be kept at 94 degrees below zero Fahrenheit in order to maintain optimal efficacy. Each package can contain 1,000 to 5,000 doses.
The U.S. Food and Drug Administration on Monday authorized emergency use of Eli Lilly's experimental Covid-19 antibody treatment for non-hospitalized patients older than 65 or who have certain chronic medical conditions.
The FDA said its emergency use authorization (EUA) was based on clinical trials showing that the treatment, bamlanivimab, reduced the need for hospitalization or emergency room visits in Covid-19 patients at high risk of disease progression.
It can now be used for treating mild-to-moderate Covid-19 in adults and pediatric patients over the age of 12, the FDA said.